UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  Form 10-QSB



(Mark One)
[X]
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934

               For the quarterly period ended: September 30, 1999

[] TRANSITION  REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
              For the transition period from _________ to _________

                         Commission file number 0-21991

                        ADVANCED GAMING TECHNOLOGY, INC.
       (Exact name of small business issuer as specified in its charter)

            Wyoming                                              98-0152226
  (State or other jurisdiction                                  (IRS Employer
of incorporation or organization)                            Identification No.)

                      P O BOX 46855 LAS VEGAS, NEVADA 89114
                    (Address of principal executive offices)

                                 (702) 227-6578
                           Issuer's telephone number


               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDING DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes [X] No [ ]


                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practical date: September 30, 1999 25,000,000

Transitional Small Business Disclosure Format (check one). Yes [ ] No [X]

<PAGE>

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

The unaudited condensed  consolidated financial statements presented herein have
been prepared by the Company in accordance with the  instructions to Form 10-QSB
and do not  include  all of the  information  and note  disclosures  required by
generally accepted accounting principles. These condensed consolidated financial
statements  should  be read  in  conjunction  with  the  consolidated  financial
statements and notes thereto  included in the Company's Form 10-KSB for the year
ended December 31, 1998. The  accompanying  financial  statements  have not been
examined by  independent  accountants  in  accordance  with  generally  accepted
auditing standards,  but in the opinion of management such financial  statements
include  all  adjustments  (consisting  only of  normal  recurring  adjustments)
necessary  to present  fairly the  Company's  financial  position and results of
operations.  The  results  of  operations  for the three and nine  months  ended
September 30, 1999 may not be indicative of the results that may be expected for
the year ending December 31, 1999.


























                                       3
<PAGE>

                        Advanced Gaming Technology, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


<TABLE>
<CAPTION>

                                                September 30,       December 31,
ASSETS:                                             1999               1998
<S>                                               <C>                <C>
Current Assets
Cash and cash equivalents ................        $  815,017         $  109,824
Accounts receivable, net .................             1,218              7,825
Prepaid expenses .........................             5,285              5,285
Inventory ................................            20,000             20,000
                                                  ----------         ----------
Total current assets .....................           841,520            142,934


Property and Equipment, net ..............           141,740            204,740

Intangible and other assets ..............         2,700,000          3,442,604
                                                  ----------         ----------

Total assets .............................        $3,683,260         $3,790,278
                                                  ==========         ==========
</TABLE>








The  accompanying  notes  are an  integral  part of the  condensed  consolidated
financial statements.



                                       4




<PAGE>

                        Advanced Gaming Technology, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                    September 30,   December 31,
LIABILITIES AND STOCKHOLDERS' DEFICIT:                  1999            1998
<S>                                                 <C>             <C>
Liabilities
Accounts payable and accrued liabilities ........   $    256,142   $  2,766,588
Notes payable ...................................           --          313,000
Convertible notes ...............................           --          748,750
Current portion of long term debt ...............           --        3,918,371
                                                    ------------   ------------
Total liabilities ...............................        256,142      7,746,709


Long term obligations, net of current portion ...      2,584,000           --
                                                    ------------   ------------

Total liabilities ...............................      2,840,142      7,746,709

Stockholders' Deficit:
Preferred Stock-10% cumulative, $.10 par value;
 authorized 4,000,000 shares; issued - nil ......           --             --
Common Stock - $.005 par value; authorized
 25,000,000 and 150,000,000  shares, issued
 and outstanding 25,000,000 and 1,750,000
 in 1999 and 1998, respectively .................        125,000          8,750
Additional paid-in capital ......................        699,334     32,612,806
Accumulated deficit .............................         18,784    (36,577,987)
                                                    ------------   ------------
Total stockholders' deficit .....................        843,118     (3,956,431)
                                                    ------------   ------------
Total liabilities and stockholders deficit ......   $  3,683,260   $  3,790,278
                                                    ============   ============
 </TABLE>


The  accompanying  notes  are an  integral  part of the  condensed  consolidated
financial statements.

                                       5
<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)



 <TABLE>
<CAPTION>
                                            For the Three Months             For the Nine Months
                                             Ended September 30,             Ended September 30,
                                            1999            1998            1999            1998
                                        ------------    ------------    ------------    ------------
<S>                                     <C>             <C>             <C>             <C>
Revenue .............................   $    612,536    $     68,664    $    787,538    $    313,719
Cost of revenue .....................           --            10,270            --           122,980
                                        ------------    ------------    ------------    ------------
Gross margin ........................        612,536          58,394         787,538         190,739

Expenses ............................        153,418         502,726         405,960       2,175,123
                                        ------------    ------------    ------------    ------------

Earnings (Loss) from operations .....        459,118        (444,332)        381,578      (1,984,384)

Other income (expense), net .........           --          (134,112)        (96,500)        362,220
                                        ------------    ------------    ------------    ------------
Earnings (Loss) before reorganization
      charges .......................        459,118        (578,444)   $    285,078      (1,622,164)

Reorganization charges ..............       (266,294)           --          (266,294)           --
                                        ------------    ------------    ------------    ------------

Net income (loss) ...................        192,824        (578,444)         18,784      (1,622,164)
                                        ============    ============    ============    ============


Net income(loss) per common share ...   $       (.01)   $       (.46)   $       --      $      (1.29)
                                        ============    ============    ============    ============
Weighted average common
 shares outstanding .................     25,000,000       1,260,929      25,000,000       1,260,929
</TABLE>

The  accompanying  notes  are an  integral  part of the  condensed  consolidated
financial statements.

                                       6

<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                      For the Nine Months Ended
                                                             September 30,
                                                          1999           1998
<S>                                                   <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) .................................   $    18,784   $(1,622,164)
Adjustments to Reconcile Net Loss to Net Cash
Provided by (Used in) Operating Activities:
Depreciation and amortization .....................       162,517       500,000
Reorganization charges ............................       266,294          --
Issuance of common stock for expenses .............          --          93,500
Change in operating assets and liabilities:
Accounts receivable ...............................         6,607       218,238
Prepaid expenses ..................................          --          80,512
Deferred charges ..................................          --         248,564
Inventory .........................................          --          53,551
Accounts payable and accrued liabilities ..........        25,195    (1,677,951)
                                                      -----------   -----------
Net cash provided by (used in) operating activities       479,397    (2,105,750)

Cash Flows From Investing Activities:
Other assets ......................................        75,796      (185,433)
Purchase of property and equipment ................          --       1,005,944
                                                      -----------   -----------
Net Cash (Used in) provided by Investing Activities        75,796       820,511

Cash Flows From Financing Activities:
Proceeds from issuance of common stock ............       150,000     4,332,549
Proceeds from debt and notes ......................          --         282,812
Repayment of debt and notes .......................          --      (3,215,750)
                                                      -----------   -----------
Net cash provided by financing activities .........       150,000     1,399,611

Net change in cash and cash equivalents ...........       705,193       114,372
Cash and cash equivalents at beginning of period ..       109,824        17,276
                                                      -----------   -----------
Cash and cash equivalents at end of period ........   $   815,017   $   131,648
                                                      ===========   ===========
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest ..........          --     $      --
Supplemental Disclosure of Non-Cash
Investing and Financing Activities:
Conversion of notes to common stock ...............          --     $ 2,728,750
</TABLE>
The  accompanying  notes  are an  integral  part of the  condensed  consolidated
financial statements.
                                       7
<PAGE>

                        Advanced Gaming Technology, Inc.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
                                   (Unaudited)

1.       Interim Reporting

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with generally  accepted  accounting  principles and Form
10-QSB requirements. Accordingly, they do not include all of the information and
footnotes  required by generally  accepted  accounting  principles  for complete
financial statements.  In the opinion of management,  all adjustments considered
necessary for a fair presentation have been included.  Operating results for the
three and nine month  periods  ended  September  30, 1999,  are not  necessarily
indicative  of the results that may be expected for the year ended  December 31,
1999. For further  information,  refer to the financial statements and footnotes
thereto  included  in the  Company's  annual  report on Form 10-KSB for the year
ended December 31, 1998.

2. Plan of reorganization

On June 29, 1999 the Bankruptcy Court in the District of Las Vegas confirmed the
Company's plan of reorganization. The confirmed plan provided for the following:

Secured  Debt - The  secured  debt  (secured  by land  owned by the  company  in
Branson,  Missouri) was exchanged for new notes in the amount of $1,750,000  and
$884,000.  The new  notes  bear  interest  at 9% and 7%,  respectively.  Minimal
payments  are  due for the  first  six  months  following  reorganization.  Full
payments of  principal  and interest are due  beginning  with the seventh  month
following  the  effective  date of the plan.  The notes mature in five years and
seven years, respectively.

Priority claims - priority claims consisting primarily of payroll and legal fees
were paid on the effective date of the plan.

Unsecured claims - The holders of unsecured approved claims received 1.88 shares
of the new common stock of the Company for each $1 of allowed claim.

Common stock - The holders of approximately  110 million  outstanding  shares of
the Company's  existing  common stock received one share of new common stock for
each 66 shares  currently  owned.  25 million  shares of new  common  stock were
issued  pursuant to the court  approved  plan.  Existing  shareholders  received
approximately  7% of the new common stock of the company.  All references in the
accompanying  financial  statements to the number of common shares and per share
amounts for 1998 have been restated to reflect the stock split.

The  Company  accounted  for the  reorganization  using  fresh-start  reporting.
Accordingly,   all  assets  and   liabilities  are  restated  to  reflect  their
reorganization   value,   which   approximates   fair   value  at  the  date  of
reorganization.  Due to the  fresh-start  accounting  adjustments  the financial
statements may not be comparable to the prior year.
                                       8
<PAGE>

Item 2. Management's Discussion and Analysis

General -

This discussion should be read in conjunction with  Management's  Discussion and
Analysis of  Financial  Condition  and Results of  Operations  in the  Company's
annual report on Form 10-KSB for the year ended December 31, 1998. The Company's
shares of  capital  stock are  registered  under  Section  12 of the  Securities
Exchange Act of 1934. The Company became a reporting  issuer in March 1997. This
quarterly  report on Form 10-QSB and the  information  incorporated by reference
herein contain  forward-looking  statements within the meaning of Section 27A of
the  Securities  Act of 1933,  as amended,  and  Section  21E of the  Securities
Exchange Act of 1934, as amended.  Such statements include,  but are not limited
to,  projected sales,  gross margin and net income figures,  the availability of
capital   resources,   plans   concerning   products   and  market   acceptance.
Forward-looking  statements are inherently  subject to risks and  uncertainties,
many of which cannot be predicted  with  accuracy and some of which may not even
be anticipated. Future events and actual results, financial and otherwise, could
differ materially from those set forth in or contemplated by the forward-looking
statements  herein  and any  forward  looking  statements  should be  considered
accordingly.

In August of 1998 the company filed for  reorganization  under chapter 11 of the
U. S.  Bankruptcy  Code in the  District of Las Vegas The company  operated as a
debtor-in-possession  until  June 29,  1999 when its plan was  confirmed  by the
court. The plan became effective on August 19, 1999.

Under the terms of the  court-approved  plan the existing common stock interests
in Advanced Gaming technology,  Inc were cancelled. The company, as reorganized,
issued new common stock. The plan provides generally that unsecured creditors of
the company  holding  allowed claims receive 1.88 shares of new common stock for
each $1 of allowed claim.  Holders of common stock of the company received 7% of
the new common stock under the terms of the plan.

The company has adopted fresh-start accounting on the effective date of the plan
in accordance  with AICPA  Statement of Position  90-7 " Financial  reporting by
entities in  reorganization  under the  bankruptcy  code" (SOP 90-7).  The fresh
start  reporting is reflected in the  September  30, 1999  Consolidated  Balance
Sheet.

Liabilities  subject to compromise  immediately prior to the effective date were
discharged  on the  effective  date.  Depending  on the nature of the claim each
obligation was paid,  exchanged for stock,  discharged,  or carried forward as a
new liability under the terms of the plan.
                                       9
<PAGE>

Results of Operations -

1999 Compared to 1998

Net income for the nine months ended September 30, 1999 before the impact of the
reorganization  was $285,078  compared to a net loss of $1,622,164  for the same
period in 1998. This improvement was due to a substantial reduction of operating
costs  implemented  in August  of 1998 and  settlement  of a  product  licensing
agreement.  With the  bankruptcy  process  complete  the company  will focus all
efforts on executing the new business plan.

The company is generating minimal revenue from operations.  Revenue for the nine
months ended September 30, 1999 was $787,538 compared to $313,719 in 1998.

Leasing of the Max Lite hand-held  electronic  bingo unit has been hampered by a
lack of operating  capital  necessary to establish a network of  distributors to
market,  service and support the product.  The company is currently pursuing new
distribution arrangements.

The Max Plus  licensing  agreement was settled in July 1999.  Under the terms of
the settlement the company received a one-time payment of $850,000 in July 1999.
The company retains the right to market the Max Plus and Turbo Max systems.  The
Max Plus  system will be marketed as a  complement  to the Max Lite  system.  No
further royalty payments will be received under the settled license agreement.

Expenses for the first nine months of 1999 were $405,960  compared to $2,175,123
in the  prior  year.  Substantial  cost  reductions  have been  achieved  in all
operating  areas.  Salaries  and wages  expenses and related  payroll  taxes and
benefits decreased sharply.  Expenses are expected to remain low until cash flow
can be  generated  from  product  revenue to justify  expansion  of  operations.
Expenses for the third quarter were $153,418 compared to $502,726 in 1998.

Other  income  (expense)  consisted  of an expense of $96,500 for the first nine
months of 1999  compared to income of $362,220 in 1998.  In 1998 a $1.5  million
licensing payment was received related to the Max Plus licensing agreement. This
amount was offset by $1.1  million in expenses  related to interest  expense and
equipment  write-downs.  Interest  expense  decreased  in  1999  is  due  to the
conversion of liabilities to equity during the past year.




                                       10
<PAGE>

Liquidity and Capital Resources -

The Company raised operating  capital in the amount of $1 million in conjunction
with the reorganization. A portion of this new capital was utilized to pay court
approved  administrative  expenses and priority claims. After these payments and
payments for  operating  expenses the company  expects to have a cash balance in
excess of $600,000.  The company is confident that the working capital generated
in conjunction with the plan will allow management to pursue distribution of the
Max Lite and Max Plus products. Due to strong competition in the market there is
no guarantee that such efforts will be successful.

The  company's  debt was  restructured  pursuant  to the  plan.  Long-term  debt
consists of two notes  totaling  $2.6  million.  The company is required to make
only  minimal  debt  service  payments  on these  notes for the first six months
following the effective date of the plan.

Liabilities  subject to compromise were converted to equity,  paid or eliminated
on the effective date pursuant to the plan. Each unsecured  creditor  holding an
allowed  claim  received  1.88 shares of new common stock for each $1 of allowed
claim in full satisfaction of the outstanding obligation.

The  existing  common stock of the company was  cancelled  pursuant to the plan.
Shareholders  of record on the  effective  date received one share of new common
stock for each 66 shares  currently owned. 25 million shares of new common stock
were issued pursuant to the court approved plan.

The company  intends to  aggressively  market the existing Max Lite and Max Plus
electronic  bingo  systems.  In addition,  the company  intends to invest in new
projects  as  opportunities  arise.  These  projects  will  likely  be in  areas
unrelated to the current  electronic  bingo systems.  This is part of an overall
strategic  plan to  diversify  revenue.  Such  projects  may be  funded  through
existing cash reserves or may require  additional  working capital.  There is no
guarantee that funding will be available  when these  opportunities  arise.  The
company  will  consider  all  methods of  financing  as a means of  funding  new
projects.








                                       11
<PAGE>

Inflation and Regulation -

The Company's operations have not been, and in the near term are not expected to
be, materially  affected by inflation or changing prices. The Company encounters
competition  from a variety of firms  offering  similar  products  in its market
area. Many of these firms have long standing customer relationships and are well
staffed and well financed. The Company believes that competition in the industry
is based on competitive pricing, although the ability,  reputation and technical
support of a concern is also significant.  The Company does not believe that any
recently enacted or presently pending proposed  legislation will have a material
adverse effect on its results of operations.































                                       12
<PAGE>

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 2. Changes in Securities

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Submission of Matters to a Vote of Security Holders.

Plan and disclosure statement related to chapter 11 reorganization.

Item 5. Other Information

None.

Item 6. Exhibits and Reports on Form 8-K

The Company filed one report on Form 8-K during the nine months ended  September
30, 1999.

1. Item reported:  Announcement  of confirmation  of plan of  reorganization  by
bankruptcy court.













                                       13
<PAGE>

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.


                        ADVANCED GAMING TECHNOLOGY, INC.
                                  (Registrant)


                 DATE: October 27, 1999 By: /s/ DANIEL H. SCOTT
                                           ------------------------------------
                                                Daniel H. Scott
                                                President, Chief Executive
                                                Officer and Director


                 DATE: October 27, 1999 By: /s/ DANIEL H. SCOTT
                                           ------------------------------------
                                                Daniel H. Scott
                                                Chief Financial Officer





















                                       14